SolarEdge Technologies (SEDG) closed the most recent trading day at $150.87, moving +1.76% from the previous trading session. This change outpaced the S&P 500's 0.57% loss on the day. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 1.04%.
Prior to today's trading, shares of the photovoltaic products maker had lost 16.23% over the past month. This has lagged the Oils-Energy sector's gain of 1.36% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release. In that report, analysts expect SolarEdge Technologies to post earnings of $1.95 per share. This would mark year-over-year growth of 114.29%. Meanwhile, our latest consensus estimate is calling for revenue of $896.9 million, up 7.19% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.48 per share and revenue of $3.82 billion. These totals would mark changes of +59.33% and +22.88%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SolarEdge Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note SolarEdge Technologies's current valuation metrics, including its Forward P/E ratio of 15.64. This valuation marks a discount compared to its industry's average Forward P/E of 23.33.
It is also worth noting that SEDG currently has a PEG ratio of 0.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report